The Bureau of the Treasury (BTr) fully awarded all bids for Treasury bills (T-bills) in Monday’s auction, with rates settling lower than both the previous auction and secondary market benchmarks.
The 89-, 182-, and 364-day T-bills registered average yields of 4.828 percent, 5.075 percent, and 5.171 percent, respectively. These were below the PHP Bloomberg Valuation Service (BVAL) reference rates of 4.935 percent for three months, 5.164 percent for six months, and 5.261 percent for one year.
Investor appetite remained robust, as the auction was 3.7 times oversubscribed, drawing total tenders worth P80.5 billion against the programmed P22 billion offering. With the strong turnout, the Auction Committee raised the full intended amount.
The outcome underscores continued demand for short-term government securities, even as investors monitor market conditions and interest rate trends.